Online retail sales grew more than five times faster in June than total sales, according to data from the National Retail Federation’s Retail Monitor and CNBC.
And while online and total retail sales both grew in June — year over year as well as month over month — consumers are still prioritizing non-discretionary purchases in the face of high interest rates and lingering inflation, said NRF president and CEO Matthew Shay.
“Inflation has dropped to nearly zero for goods, but remains persistent with services, and solid economic fundamentals are helping consumers make ends meet,” Shay said.
NRF excludes automobile and gasoline sales from its total retail sales figure. Based on that, total sales grew 0.47% month over month, as well as 3.42% year over year, according to the Retail Monitor. That compares with 1.35% month-over-month and 2.88% year-over-year increases in May.
Furthermore, core retail sales (which exclude restaurants in addition to automobiles and gasoline), increased 0.3% in June over May. June core retail sales also increased 3.07% year over year, according to the Retail Monitor.
Online retail sales grow fast in June
Online and other nonstore retail sales in June grew 1.78% over May. At the same time, June online sales grew 23.08% year over year.
“Month-over-month sales growth was moderate in June, and year-over-year gains for total retail sales were the largest we’ve seen since last fall,” Shay said.
Sales dropped month over month in most categories
- June online and other non-store sales (grew 1.78% month over month)
- General merchandise stores (up 0.61%)
- Grocery and beverage stores (up 1.01%)
- Sporting goods, hobby, music and book stores (up 0.68%)
- Clothing and accessories stores (down 0.11%)
- Health and personal care stores (down 0.04%)
- Electronics and appliance stores (down 1.02%)
- Furniture and home furnishings stores (down 0.62%)
- Building and garden supply stores (down 1.8%)
Sales grew year over year in most categories
- June online and other non-store sales (up 23.08% year over year)
- General merchandise stores (up 5.79%)
- Clothing and accessories stores (up 5.35%)
- Health and personal care stores (up 4.63%)
- Grocery and beverage stores (up 4.31%)
- Sporting goods, hobby, music and book stores (down 0.52% year over year unadjusted.
- Electronics and appliance stores (down 3.24%)
- Furniture and home furnishings stores (down 3.26%)
- Building and garden supply stores (down 3.46%)
Here’s last month’s update on nonstore sales.
Do you rank in our databases?
Submit your data and we’ll see where you fit in our next ranking update.
Sign up
Stay on top of the latest developments in the online retail industry. Sign up for a complimentary subscription to Digital Commerce 360 Retail News. Follow us on LinkedIn, Twitter, Facebook and YouTube. Be the first to know when Digital Commerce 360 publishes news content.